Let’s take the example of a Blockchain Football game where you can buy a young, promising and unknown player, increase his speed and dribbling stats, teach him Zidane’s roulette and Messi’s tricks, and then have him play in the best clubs having negotiated his image rights, and resell him to a prestigious club and take his agent commission. This is one of the promising aspects of Dynamic-NFT, and technically, it is possible.
Dynamic NFT, how does it work?
Technically, it’s simple: all you need is a Chainlink type oracle which records the modifications of the NFT on the Blockchain and updates them in real time. The only problem is the cost of each update which can reach 1 USD per operation and therefore dampen the enthusiasm of users of applications or games requiring incessant changes. Another solution is to implement the changes “off-chain” and update them at a weekly frequency “on-chain” for example, reducing updating costs, but potentially raising doubts about the transparency of operations.
Being able to evolve its NFT game character and see its market value increase offers a new way to play a video game, making the ecosystem even more immersive.
For what applications?
The first examples that come up are competition-based video games, where characters scale on similar stats like strength, speed, or energy. Virtual art can also use Dynamic NFT to improve a work, or make it evolve for a specific purpose. Music, by adding samples to a beat, or changing the rhythm of an existing song, could use this technology. At the administrative level, we could very well see in the near future certificates, diplomas, or permits taking the form of Dynamic NFT which evolve according to changes in laws, standards, etc.
In conclusion, the Dynamic NFT offers undeniable advantages for the Blockchain. Beyond the barriers of cost and transparency, it appears obvious that Dynamic-NFT will be an integral part of the Blockchain NFT ecosystem.
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